Yes, the Windows 8 rumour mill is really spinning up now. This time around though, they're not really rumours, since the information is coming from Rafael Rivera and Paul Thurrott, long-time Microsoft enthusiasts with loads of insider access. They've got a bunch of screenshots showing a work in progress of... A ribbon in Explorer. And yes, it looks just as bad as it sounds.

Update:
- When you are in another application and you use a global shortcut that has meaning also in that application, both the local and global shortcuts get activated. Expected behavior would be if only the global shortcut would work